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Intertemporal Rules with Variable Speed of Adjustment: An Application to U.K. Manufacturing Employment

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Author Info
Burgess, Simon M
Dolado, Juan J

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Abstract

This paper presents a procedure to estimate intertemporal dynamic decision rules where adjustment costs are assumed to be variable. The estimation is based on the Euler equation. For purposes of illustration, the authors concentrate on an employment function for the U.K. manufacturing sector where they find very significant effects of some variables that influence adjustment costs. Finally, they point out an empirical result that has interesting implications when evaluating tests of "efficient bargain" models. Copyright 1989 by Royal Economic Society.

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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 99 (1989)
Issue (Month): 396 (June)
Pages: 347-65
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Handle: RePEc:ecj:econjl:v:99:y:1989:i:396:p:347-65

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  4. Jaime Saavedra-Chanduví & Máximo Torero, 2000. "Labor Market Reforms and Their Impact on Formal Labor Demand and Job Market Turnover: The Case of Peru," RES Working Papers 3095, Inter-American Development Bank, Research Department. [Downloadable!]
  5. Jaramillo, F. & Schiantarelli, F. & Sembenelli, A., 1992. "Are Adjustment Costs for Labor Asymetric? An Econometric Test On Panel Data for Italy," Working Papers 92-13, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
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  8. Hassink, W.H.J. & Broersma, L., 1993. "Labour demand and job-to-job movement : macro-consequences as a result from micro-economic behaviour," Serie Research Memoranda 0001, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. [Downloadable!]
  9. Daniel S. Hamermesh, 1992. "Spatial and Temporal Aggregation in the Dynamics of Labor Demand," NBER Working Papers 4055, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  10. Daniel S. Hamermesh, 2004. "Labor Demand in Latin America and the Caribbean. What Does It Tell Us?," NBER Chapters, in: Law and Employment: Lessons from Latin American and the Caribbean, pages 553-562 National Bureau of Economic Research, Inc. [Downloadable!]
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  12. Sarah Brown & Gaia Garino & Christopher Martin, 2007. "Labour Turnover and Firm Performance," Working Papers 2007012, The University of Sheffield, Department of Economics, revised Sep 2007. [Downloadable!]
  13. Alvaro Escribano & Oscar Jorda, . "Improved Testing And Specification Of Smooth Transition Regression Models," Department of Economics 97-26, California Davis - Department of Economics. [Downloadable!]
  14. Jaime Saavedra Chanduví & Eduardo Maruyama Sasaki, 2000. "Estabilidad laboral e indemnización: efectos de los costos de despido sobre el funcionamiento del mercado laboral peruano," Documentos de Trabajo dt28, Grupo de Análisis para el Desarrollo (GRADE). [Downloadable!]
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